i am new to alpaca and have api background from FXCM, OANDA, Alpari, … . OANDA closed its API a few days ago.
I still get in touch with the functions offered by the alpacas REST API.
I would like to ask how it is possible to update or set a SL or a TP for an active trade?
Looking at the specifications, I don’t see such a possibility.
The idea: I would like to poll the market e.g. every 15 minutes and if needed retighten the SL according to my own criteria. Influencing the SL in the state of an unexecuted order is not the goal of my question.
Should i add a counter-order like a stop-order in the same market to smooth out a given position if a certain price-level is reached? Is this the only workaround?